du raises Dh3.15b in secondary share sale, priced at Dh9.20 each

Mamoura sells 7.55% stake in du through UAE's first fully marketed SPO

- BY JUSTIN VARGHESE

Emirates Integrated Telecommunications Company (du) has completed a secondary public offering that raised Dh3.15 billion for its shareholder Mamoura Diversified Global Holding, a subsidiary of Mubadala Investment Company.

The deal involved the sale of 342 million shares, equal to 7.55 per cent of du's share capital, at Dh9.20 each. Mamoura sold 75 per cent of its stake in the company.